JB Oxford Holdings Severs Ties
With Controversial Consultant

BEVERLY HILLS, Calif. -- JB Oxford Holdings Inc. said it severed a controversial consulting relationship with Irving Kott, who has a criminal record for stock fraud.

As previously reported ("FBI Agents Raid Offices of JB Oxford Holdings ," 8/20/97), Oxford's offices were raided last month by federal agents who took away documents related to the firm's operations over the past several years. The brokerage firm also has been under investigation by the Securities and Exchange Commission, which is examining Mr....